Business
Pace at which young CAs leave SL has increased over past 18 months – CA Sri Lanka president
By Hiran H.Senewiratne
The speed at which young Chartered Accountants leave for other countries has increased during the last 18 months due to the prevailing economic crisis in Sri Lanka, president, Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) Sanjaya Bandara said.
“At present, out of 9000 members more than 40 percent has already left the country. But during the last 18 months, the number of young qualified Chartered Accountants going overseas has increased in a considerable manner, Bandara told a media briefing called to announced the acceptance of entries for CA Sri Lanka’s prestigious event, TAGS Awards 2023, which will be held on December 12 at Shangri La Hotel, Colombo. The media conference was held at CA Sri Lanka’s head office in Colombo.
Bandara added: “The current economic crisis prompts renewed calls for stronger transparency, accountability and governance integrity across the board and the Anti-Corruption Bill, if implemented properly, will pave the way for a better and stronger corruption-free system.
“Since the Chartered Accountants’ qualification is well- recognized in the world, once our young accountants obtain the qualification they leave the country for better career prospects. Therefore, we have to fight corruption and increase transparency and accountability. Besides, a holistic approach needs to be adopted involving all stakeholders, along with the exercising of the political will to ensure successful implementation of policy decisions in these areas.”
Chairman TAGS Awards Committee Thivanka Jayasinghe said that last year CA Sri Lanka transformed and rebranded the Annual Report Awards ceremony as TAGS Awards, in keeping with global standards.
Jayasinghe explained that this was also done to keep pace with global developments amid an increased focus on enhancing non-financial reporting to disclose sustainability and climate change factors. “These introductions were further endorsed by recent global developments that have taken place in this area, including the International Sustainability Standard Board issuing new sustainability disclosure standards, thereby ushering in a new era in international cooperation, he said.
CSE- Director Arjuna Herath said that in financial reporting, much emphasis has been placed on non-financial factors, which will not negatively impact financial reporting.
“By having financial and nonfinancial information, prospective investors could use that data for future investments, provided this information has been reported according to proper auditing standards, Herath said.
Awards will be conferred on companies meeting the winning criteria, representing 29 industry sectors, including multinationals, blue-chips, SMEs as well as NGOs and NPOs. Organizations that produce annual reports could register for the highly acclaimed competition by providing their Annual Reports for the Financial Year ending December 31, 2022 or March 31, 2023.
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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